WASHINGTON, April 22 — Joe Robson, chairman of the National Association of Home Builders (NAHB) and a home builder from Tulsa, Okla., issued the following statement on the need to expand the current net operating loss carryback law:
"Since February 2006, residential construction has lost nearly 1 million jobs and this figure continues to grow on a monthly basis. In order to put builders back to work and help to revive housing and the economy, we continue to call on Congress and the Obama Administration to do everything possible to expand the net operating loss (NOL) carryback provision that was contained in the recently enacted economic stimulus legislation. NAHB supports the fullest and most robust NOL carryback provision possible in order to avert more costly layoffs in construction and other industries that would take an even worse toll on the nation's economy. As part of this expanded NOL carryback, NAHB also supports measures to ensure that an enhanced NOL rule would not create any undue advantages in the marketplace."
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About NAHB: The National Association of Home Builders is a Washington, D.C.-based trade association representing more than 200,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for 2009.